Bitcoin for beginners

Wondering if anyone has experience using Bitcoin back in the day when it was simply used as an alternative form of payment.

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Yes I have and I still know few people who will still take bitccoin aspayments

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Ha, Bitcoin has sure come a long way since its beginnings :grinning_face_with_smiling_eyes:. First as unheard of internet payment form then to the sensationalized financial market leader it is today. I read today that people are putting it in their mutual funds and retirement accounts.

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If you don’t mind me asking, these people you know, what types of business are they in?

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Yes, back in ~2014 people understood bitcoin to be truly currency, not a speculative instrument.

Back then “volatility” meant get some more bitcoin than you plan on using in case the price drops.

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I have no luck with Bitcoins , I opened an account once put $50 in and was charged some shit ate $35 of my funds fuck bitcoins lol USE us dollars keep America strong lol

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I put some money in a bank once and they charged me an overdraft fee. Pretty sure that’s the fault of the currency we were using, though, not the bank… :wink:

I’m still sitting on a bit of everything…

Let me tell you how nice it is to know all those Bitcoin I used to get in WoW tourneys are now lost on a fried system somewhere in a junkyard lol

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There are millions, maybe billions of dollars worth of crypto sitting in landfills on USB, SSD, and HDDs all over the world. Going to be the new X marks the spot treasure hunt one day. lolol

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Yeah, it’s definitely not a perfect system. No centralized authorities means no guardrails means you’re screwed if you mess up. On the other hand, no centralized authorities means no one can unilaterally decide to print 30% more BTC in a month, inject it all into the bond market so it trickles down to the oligarchy, and cause years of steady inflation which they proceed to blame on supply chain issues…

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I remember back when bitcoin appeared they gifted bitcoins in some websites, bad for me I didnt grabbed them :rofl:

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Yup. Bitcoin faucets are gonna look even crazier as time goes on.

I have an account that deducts $50 a week and buys BTC. Dollar cost averaging is a god way to slowly build up a little stash. It also allows me to buy it without worrying if it’s the right time, etc, and $50 a week for me is pretty painless - it will also add up over time.
I think in maybe five to ten years Bitcoin will be worth a lot more than it is now, and I will be happy I started to create a little BTC stash now

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Buy low, sell high… Haha, beautiful if you think about it. :city_sunrise: I remember people selling WOW armor kits for Bitcoin… @toastyjakes what were the payouts back then?

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I was considering buying bitcoin some years ago when it was $900, and only for making purchases. I set up an account with Coinbase, and they delayed in approving my account, because I had renewed my drivers’s license, and only had the temporary license until I received the actual. Bitcoin began spiking in price before I got approved so I said fug this! Of course it has crashed a couple of times since then, but i lost interest. “Bitcoin for beginners” at today’s inflated price of around 40K? My advice is beginners stay away!

I was interested in people experiences with Bitcoin before it was mainstream. Also, I am kind of “fishing” here. Have some ideas and was looking for experienced/interested ppl.

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I have been buying and using bitcoin since silk road 1.0 wassup?

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I remember a long time ago someone was offering 100 bitcoin for fly swatters. They were basically worth nothing at the time.
No I didn’t get any.

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Hmmm altruism…
Maybe a little bit of insight into Bitcoin. In it’s beginning it was used as an alternative payment system, this is the general public perception of it.
There is more to the story though! It was set up as a genius way of making alot of money. You see you bought bitcoin and then paid for your item with the Bitcoin you purchased. The individuals selling you the Bitcoin were the same people selling you fly swatters. Genius; because the Bitcoin had a small value, when you purchased the Bitcoin and then used it to buy items the vendors were basically making double profit, once from the sale if Bitcoin and then again when you paid with Bitcoin.:grin::grin::grin::grin:

Now if there were a new crypto, say Hempcoin, this model could be used again, but instead of the vendors making double you just give the actual $$$ back to the purchaser keeping the Hempcoin and your profit all while being FREE to the consumer. This could be used for seeds, shipping and Supplies.

I was staying in another thread that there should be a “kennel club” type organization for MJ. They could use this…

Edit: can I copywrite “Hempcoin”? :wink::grin::wink:

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Maybe I should start a new thread titled “A topological approach to marijuana” where these ideas can be hashed out.

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